Are rents up or down in Bayswater, London

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    Are rents up or down in Bayswater, London

    Hi

    I have a flat in Bayswater, London that I rent out. I've been abroad for the past year and have got to renegotiate rents with my tenants. Can anybody tell me whether rents are higher or lower than last year and how much they have changed by?

    Thank you in advance.

    #2
    Originally posted by BayswaterLandlord View Post
    Hi

    I have a flat in Bayswater, London that I rent out. I've been abroad for the past year and have got to renegotiate rents with my tenants. Can anybody tell me whether rents are higher or lower than last year and how much they have changed by?

    Thank you in advance.
    Sorry, can't help you personally, but surely a quick phone call or email to as many Bayswater letting agents as possible (they usually provide an email address on their websites) would give you a better idea?
    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

    Comment


      #3
      A cheap way of doing market research of this kind is to use t'internet to locate several Bayswater letting/estate agents (eg yell.com). Look at their websites and gauge the asking rental prices of similar properties.

      You can then decide if your rents are higher or lower than the current market average.

      Comment


        #4
        Thank you for your suggestions.

        Ive actually done that and the indication is that rents have gone up by about 20%. But given that Ive heard the opposite from landlords in other areas of London and that my past experience is that agents can be very optimistic Im not sure what to believe.

        Comment


          #5
          Originally posted by BayswaterLandlord View Post
          Thank you for your suggestions.

          Ive actually done that and the indication is that rents have gone up by about 20%. But given that Ive heard the opposite from landlords in other areas of London and that my past experience is that agents can be very optimistic Im not sure what to believe.

          All you can do is 'suck it and see', as they say.
          'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

          Comment


            #6
            Originally posted by mind the gap View Post
            All you can do is 'suck it and see', as they say.
            Do they? Isn't that more Kings Cross?
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
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              #7
              Rents

              Laymans opinion,

              I have been looking around in the area and it appears that you are getting more for your money now than 3 months ago.

              Basically circa £380/400 / week is still acheivable but not if it a a dive.

              Comment


                #8
                Thanks

                Is that 380/ 400 for a one bedroom place?

                Comment


                  #9
                  it depends what street in bayswater and what you have. People seem to be offering lower on most places as lots of owners have flooded the market. But if you have something fantastic in a great location I guess people will always pay a premium. Check primelocation for comparison.

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